Technoprenuership Assignments 1

Science provides the foundational knowledge that enables technological development, while technology is the application of scientific knowledge. Together, science and technology play a crucial role in technopreneurship by allowing entrepreneurs to develop innovative products and services. Examples provided demonstrate how science and existing technologies like 3D printing, artificial intelligence, renewable energies, and blockchain have been leveraged by technopreneurs to create startups addressing needs across various industries.

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Technoprenuership Assignments 1

Uploaded by

munyaradzi Chipere

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Download as DOCX, PDF, TXT or read online on Scribd

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Name : Munyaradzi Mike Chipere

Registration Number : C19137846F

Program :BEMC2

Module : Technoprenuership CUEBM301

Assignment 1
Assignment 1
Question : Using illustrative examples demonstrate the role of science and technology in
technopreneurship

The word “science” comes from the Latin "scientia" which translates to knowledge, Science
is a reasoned investigation or study of phenomena, aimed at discovering enduring principles
among elements, It is also a system of acquiring knowledge using observation and
experimentation to describe and explain natural phenomena. Science can be thought of as
both a body of knowledge (the things we have already discovered), and the process of
acquiring new knowledge (through observation and experimentation, testing and
hypothesizing. The known fields of science are normally divided into two separate fields
which are, Natural science and social science. Natural science is the study of the natural
world around us be it biological, physical or chemical it is all encompassed within natural
science.The other field of science is social science, this is the study of human behavior. This
means how people interact with each other and why humans interact in the ways they do
within a society. Pure science is the study of the nature and behaviour of natural things and
the knowledge that we obtain about them in their natural environment. Applied science
is the use of the scientific method and knowledge obtained via conclusions from the method
to attain practical goals.

The word technology is derived from a combination of two different greek words “techne”
meaning art or skill and “logia” which translates to oracles or utterances. Technology is the
knowledge and use of humanities tools and techniques. Technology is used to create tools,
develop skills and extract or collect materials. Technology can also be redefined as the
application of science to solve a specific problem. Technology can be material or immaterial.
Material technology begins with the production of goods from raw materials to processing
of materials into the shapes and forms needed for specific applications. An example of a
material technology is the current techniques used in 3D printing. Majority of the devices
needed for the process are physical and even the results of the process are physical you can
actually touch them hence why it is named a material technology. Immaterial technology is
virtual technology for example computer software, business models. You cant touch
computer software or business models but we know they are both present due to the results
they produce.

Technoprenuership is a combination between two individual concepts, technology and

entrepreneurship. Technology has already been predefined, entrepreneurship refers to the
creation and growth of new and innovative businesses based on the ability to identify
business opportunities. Technoprenuership leads to the recognition, discovery and even
creation of entrepreneurial opportunities for technological improvements. Science and
technology play a crucial role in technopreneurship by enabling entrepreneurs to develop
innovative products and services that disrupt traditional industries and create new markets.

The role of technology in technopreneurship is to, create opportunities, Offer sources for
innovation. Technology plays a fundamental role in enabling the transformation of resource
inputs into outputs. Innovation, by improving the efficiency with which inputs are converted
to outputs, is also an important driver of environmental performance improvement of
business. Such eco-efficiency improvements may be seen as a normal consequence of
general efficiency upgrading by business through incremental innovation, investment in new
capital and improved control of processes.

The role of science is to, lead to new discoveries and for Empirical evidence - Empirical
evidence is information acquired by observation or experimentation.

3D printing is a technology that allows for the creation of three-dimensional objects from a
digital model. It has enabled technopreneurs to create new products and services in various
industries. For example, a startup called Bespoke Innovations uses 3D printing to create
custom prosthetic limbs for amputees, while another startup called Local Motors uses 3D
printing to manufacture customizable cars.
The science in 3D printing comes from all the knowledge there already is about printing from
2D printing to how we can then use 3D printing. Knowledge of how to manipulate certain
types of plastics by melting them and then solidifying in a desired pattern. The knowledge of
how we can use conveyors and pully’s to manipulate and move a printhead.
The technology in 3D printing is the culminative application of science to create a 3D printer
in its entirety. 3D printing has created opportunities in the sense that anyone with access to
a 3D printer can replicate, modify or create any plastic part they want to make. there is no
more need to look for a job shop or go to a workshop to make a simple piece that can be 3D
printed.

Artificial Intelligence is a field of computer science that focuses on creating intelligent

machines that can perform tasks that typically require human intelligence. It has enabled
technopreneurs to develop new products and services in various industries, such as
healthcare and finance. For example, a startup called Babylon Health uses AI to provide
personalized healthcare services to patients, while another startup called ZestFinance uses
AI to provide credit scoring services to lenders. AI can be used to solve complex tasks that
even humans may find impossible to solve, AI can predict outcomes of certain experiments
without the need of physically carrying out those experiments, which is cost effective. The
role of science is to lead to discoveries and empirical evidence, in order to train AI models
they need test data sets and expected outcomes. A trainer inputs a group of test data and
records the outputs and compares them with the expected outputs this is empirical
evidence which is used to train AI models. Within the process of testing and training the
model discoveries about the models capabilities are made. New jobs will open up in
engineering, software design, and programming. So for every clerk, security agent, or factory
worker that loses their jobs, there’ll be more data detectives, robotics engineers, machine
managers, and programmers gainfully employed. The gap between the tech world and the
business domain will give rise to a new set of professionals known as explainers. Acting as
middlemen between these sectors, the explainers will interpret the function and mechanism
of smart machines to show business leaders how to explore their potential in the workforce.

Renewable energy technologies such as solar, wind, and geothermal power have enabled
technopreneurs to create new products and services in the energy sector. For example, a
startup called SunFunder provides financing for off-grid solar projects in developing
countries that face power shortages this is a prime example of the use of technology to
identify and tackle an entreprunural opportunity, while another startup called Enphase
Energy produces microinverters that optimize the performance of solar panels. The science
aspect of renewable energy is all the knowledge we already have on solar energy, wind
energy, wave energy, geothermal energy and the process of researching and acquiring new
knowledge on these energies. We already know how solar energy works and through
research and testing we find ways to improve on already existing solar energy and making
the conversion process more efficient than it already is, because of this knowledge engineers
were able to manufacture solar panels that can also operate with sufficient moonlight, the
same translates to all other renewable energy sources. The technology aspect of renewable
energy comes into play when we start to use use the knowledge we have of renewable
energy to produce electricity. The actual implementation of creating wind farms and solar
farms is the technological aspect of renewable energy, in so doing creating wind farms and
solar farms creates employment for engineers and technoprenuers who can now sell this
renewable form of energy to countries that might be suffering from low supplies of
electricirty.

Blockchain is a decentralized digital ledger technology that enables secure, transparent, and
tamper-proof transactions. It has enabled technopreneurs to create new products and
services in various industries, such as finance and logistics. For example, a startup called
Ripple uses blockchain technology to facilitate cross-border payments, while another startup
called ShipChain uses blockchain technology to track the movement of goods in the supply
chain. A technoprenuer identified the applicable use of blockchain for transactions that need
complete transparency. The science behind blockchain is a set of blocks that contain data is
shared in one network of parties (nodes), which have equal and immutable access to the
data carried by the block. Blockchain technology is a structure that stores transactional
records, also known as the block, of the public in several databases, known as the “chain,” in
a network connected through peer-to-peer nodes. Typically, this storage is referred to as a
'digital ledger.' The use of blockchain technology to create startups like ripple is the
application of blockchain.

In each of these examples, science and technology have played a critical role in enabling
entrepreneurs to develop innovative products and services that address societal needs and
create new markets. These examples demonstrate that technopreneurship is not just about
developing new technology, but also about leveraging existing technology to create value
and solve real-world problems.